Five top tips to sell your home quickly
Some sellers have been holding tight and waiting for a resolution to Brexit in the hope of maximising their property’s value.
But one property business reckons that they should act now to complete a deal in the next four months.
Property listings website Placebuzz, warned that, as both Conservative Prime Minister contenders Boris Johnson and Jeremy Hunt are seemingly willing to leave the EU without a deal after 31st October, the chances of a No Deal Brexit are increasing.
It advises that sellers continuing to ‘wait and see’, should think again by adopting a strategy to complete before the October deadline.
Neil Tillott, business director at Placebuzz said: “The prospect of a no deal Brexit is looking more likely than ever and if it does happen, the outlook for the housing market could worsen considerably, with consumer confidence falling further, banks less willing to lend and a probable rise in unemployment.
“Even if we leave with a deal, we’re likely to see three years’ worth of pent up demand from sellers prompting a rush of properties hitting the market all at the same time, creating more competition and knocking prices.
“The market could go down in the next four months but it’s more likely to stay broadly at the same level, so savvy sellers who get their ducks in a row now, prepare their home for market and arrange their finances could be quids in and sold before a decision is made over Brexit.”
Five ways to sell at speed
1) Price to sell. A lower price will generate greater footfall and competition from buyers. Starting with a slightly lower “offers in excess” figure could get you more money.
2) Strongly prioritise buyers who aren’t in a chain or who are already under offer, and have finances in place even if it means accepting a lower price. You don’t have time to wait around.
3) Get your ducks in a row. Ensure your mortgage is agreed in principle if required for an ongoing purchase. Collect all the paperwork relating to your sale, including guarantees and Building Regulations completion certificates for windows, extensions and so on. If your property has a skeleton in the closet, such as knotweed or past subsidence, don’t wait to see if your buyer discovers it. Be upfront, it will save time in the long run.
4) When appointing an agent, ask to see examples of comparable properties they have sold in the last three months, the average time to sell and the percentage of asking prices achieved. Appoint an agent who gets deals over the line, not one who is good at winning instructions.
5) Be flexible on moving dates. Be prepared to put your belongings in storage and stay with relatives, friends or in an AirBnb for a week or two if needed so that you can seal the deal.